Urenco USA Enriched Uranium Storage Capsules.
Adam Jeffery | CNBC
Department of Energy announced An initiative aimed at building the nation’s nuclear fuel supply chain was announced on Wednesday as interest in the zero-emissions power source grows.
DOE is soliciting states’ interest in hosting “Nuclear Lifecycle Innovation Campuses” that support nuclear fuel life cycle activities, including spent fuel reprocessing.
The reactor uses only about 5% of the energy cost, which means that the spent fuel can be recycled. The DOE, which currently has no commercial-scale uranium reprocessing in the U.S., said it would also divert spent uranium from eventually being shipped to Yucca Mountain.
Ultimately, one of the proposed campuses could house the entire fuel cycle, from enrichment to reprocessing. The sites may also have advanced reactors, power generation and co-located data centers, as it is easier to do everything under one roof than to transport fuel.
Given the growing interest in nuclear power—in part because of the huge power needs of hyperscalers—the department said one of these campuses could attract $50 billion in capital investment from the private sector.
“Starting the next American nuclear renaissance will spur innovation, drive economic growth and create good-paying jobs while delivering affordable, reliable and secure energy to America,” said US Energy Secretary Chris Wright. He said it would be “an opportunity to work directly with states on regional priorities that support President Trump’s vision to revitalize America’s nuclear base.”
Nuclear power accounts for about 21% of US power, but the country depends on imports for most of its uranium.
Earlier this year, the DOE announced $2.7 billion in funding to boost the nation’s enrichment facilities. Centrus was awarded $900 million Production expansion at Piketon, Ohio plant. The facility has not yet reached commercial scale.
The Trump administration has made nuclear power a cornerstone of its national energy policy. President Donald Trump signed a series of executive orders last May aimed at accelerating the deployment of large and small nuclear reactors by reducing regulations.
Administration signed the agreement with Westinghouse owners last fall Kameko and Brookfield Asset Management Spending $80 billion on the US’s largest nuclear reactor project, the DOE has several initiatives to accelerate the deployment of smaller, more advanced reactors.
In November, Wright said most of the department’s loan money would be used to build nuclear plants.
“When we leave office in three years and three months, I want to see dozens of nuclear power plants under construction,” he said. Wright said at that time.